Ansal Buildwell Ltd

EPS: Around Rs.10

Face Value: Rs.10

CMP: Rs.91.80

Target: Rs.175--Rs.225, in 12 months time frame.

Antecedent: One of Companies from the Reputed Ansal Group of Gurgaon having independent management.

Land Bank: Huge Land Bank, worth Crores of Rupees in and around Gurgaon and througout India.

Triggers: Good dividend paying, Very Strong Management with Highest Corporate Ethics, Dispute between the Ansal Brothers Resolved, Huge Land Bank, Good Order Book Position, ablity to take High-Margin-High-Tech Works, could be benefitted from the 2008, Commonwealth Games, Delhi, One Mr. Jugan Verma is continuously increasing stake in the company, from the last few months, Most Undervalued Scrip among the Peer Group Companies & is touted to be the next Unitech Ltd or Mahindra Gesco Ltd:

Buy, Ansal Buildwell Ltd at the current price of Rs.91.80, with a Price Target of Rs.175--Rs.225, in 12 months time frame. This Gopal Ansal Controlled company has diversified into a number of sectors, starting from Construction, to Real Estate, to High Tech-Engineeering to Hospitality Sector.

The March, 2007 quarter results are good. The March,2007, quarter results, which still did not make entry into the Bombay Stock Exchange, web-site is as follows: Net Sales: Rs.43.4 Cr (Rs.56.19Cr in 2005-06) Total Income: Rs.43.77 Cr(Rs.56.94 in 2005-06) Operating Profit: Rs.4.77 Cr(Rs.4.19Cr in 2005-06) Reported Profit After Tax: Rs.85 lakhs (Rs.64 lakhs in 2005-06) The EPS of around Rs.10, for FY06-07, is quite good and is comparable to the best in the industry. Some of the high-tech projects the company is doing at present include: Thoubal Multipurpose Project, which is 38 Kms. from Imphal city at Thoubal; NEIGRIHMS Project, Shillong; C-DOT Main R&D Building Project, near Chattarpur, New Delhi, which comprises construction of Main R&D Building for Centre for Development of Telematics (C-DOT) with complete modern infrastructure and Auditorium with glass curtain wall, etc. The total Order Book of the company is huge and some say it is around Rs.6000--Rs.7000 Cr.

Very High Tech projects, completed by the company so far are: Narmada Main Canal Project, Gujarat; Baner Hydel Project; Jammu Udhampur Rail Link Project; Bangladesh Road Project; etc.

Some of the new projects on which the company at present are working are: Florence Marvel,Gurgaon; Florence Elite, Gurgaon; Riverdale, Ernakulam Kochin etc.

According to some sources, the stock price with this kind of management and data at its disposal should trade not less than Rs.500--Rs.600, but because of too much secrecy in its operations by the management, the public is not privy to the good works done by it. In other words, it does not have an investor friendly management.

Thus looking from all angles, a price target of Rs.500--Rs.600, in 24 months time frame does not look impossible, if the management opens up a little bit.